"Pig Butchering Trading Apps Found on Google Play, App Store"

Security researchers at Group-IB have discovered fake trading apps on Google Play and Apple's App Store that lure victims into "pig butchering" scams.  After being reported, the apps have been removed from the official Android and iOS stores after accumulating several thousand downloads.  Pig butchering is a scam where a victim is led to believe they are getting high investment returns on a fake trading platform that displays fabricated information.  Fraudsters use social engineering to keep the victim depositing funds and prevent them from withdrawing the displayed "profit." The scam is revealed when the victim attempts to cash their money, which the fraudsters have already moved to their accounts.  The researchers categorized the fraudulent apps under the "UniShadowTrade" malware family, which are built using the UniApp framework and were first spotted in May.  The researchers warned that the UniShadow Trade apps can mimic a variety of legitimate cryptocurrency and trading platforms.  

BleepingComputer reports: "Pig Butchering Trading Apps Found on Google Play, App Store"